OLO (NYSE:OLO) Given “Neutral” Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of OLO (NYSE:OLO) in a research report released on Wednesday morning, MarketBeat reports. Piper Sandler currently has a $8.00 price target on the stock.

OLO has been the subject of a number of other research reports. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price target on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd.

OLO Trading Down 2.8 %

Shares of NYSE OLO opened at $7.63 on Wednesday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -76.29 and a beta of 1.42. OLO has a one year low of $4.20 and a one year high of $8.35. The business has a fifty day simple moving average of $7.09 and a 200 day simple moving average of $5.66.

Hedge Funds Weigh In On OLO

Several institutional investors have recently added to or reduced their stakes in OLO. JPMorgan Chase & Co. increased its holdings in shares of OLO by 220.4% during the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after buying an additional 384,196 shares in the last quarter. Barclays PLC boosted its holdings in shares of OLO by 399.3% in the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after acquiring an additional 152,214 shares in the last quarter. Geode Capital Management LLC grew its position in OLO by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after acquiring an additional 42,318 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in OLO during the 3rd quarter valued at $631,000. Finally, XTX Topco Ltd raised its position in OLO by 478.6% in the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after purchasing an additional 139,441 shares during the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.